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RP
Question Practice

If two partners gain goodwill proportionately from the retiring partner, how is this accounted?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 12
Accountancy
Accountancy Part - I
Reconstitution of a Partnershi...
Question Bank

If two partners gain goodwill ...

Single Answer MCQ
Q-00082270

If two partners gain goodwill proportionately from the retiring partner, how is this accounted?

1

Equal split among partners

2

Based on new profit ratio

3

No entry is made

4

It is credited to the retiring partner solely

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Q1.

What are the different ways in which a partner can retire from a firm?

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Q2.

Explain the treatment of goodwill at the time of retirement or on the event of death of a partner.

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Q3.

How will you compute the amount payable to a deceased partner?

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Q4.

Discuss the various methods of computing the share in profits in the event of death of a partner.

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